Question

Withdrawal of the status of 'legal tender' to the currency in circulation is called demonetization.

True
False

Answer 1

Answer:

true is the correct answer

Answer 2

false

Explanation:

Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency: The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins.